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(Updated as on 18.03.2019) Home Loan In Navi Mumbai March 2019 – Compare Interest Rates from top 20 Banks & NBFCs and get quotes on home loan. Loansninsurances.com provide a simple tool to calculate your Home Loan EMI on the basis of ✓Interest Rate ✓Loan Tenure ✓Processing Fee ✓Eligibility ✓Best Offers & more.

Home Loan In Navi Mumbai – Instant Quotes Online

Professional Details

Loan Amount

Occupation

Yearly Income

City

Disclaimer: We do not provide Home Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

Home Loan In Navi Mumbai

Navi Mumbai is a fast residential and commercial area with modern infrastructure and amenities. Navi Mumbai is developing and growing day by day. Navi Mumbai is a township, located inland to the city of Mumbai. People move to Navi Mumbai for better future and career. Being a part of Mumbai, Navi Mumbai is an expensive city. But, everyone doesn’t earn the required amount to buy a home on his own. So, there are many banks in Navi Mumbai which provides home loans, according to an individual need. An individual can choose the best home loan from various banks, according to his/her requirement. As different banks have different policies and different methods of providing home loan, so it’s difficult to choose in which bank an individual should apply for home loan. But, now you don’t have to worry anymore for home loan. Because, here at loansninsurances.com we have arranged the list of banks according to their interest rates, charges and home loan products.

Home Loan In Navi Mumbai Rate Of Interest

Different bank provides different home loan interest rates according to their policy. Some banks provide home loan at lower interest rates and some at higher interest rates. An individual can choose the bank for home loan according to his choice and requirement.

Home loan can be availed for the purchase, construction, renovation and extension of a house.

Processing fee of Home loan is usually up to 0.50% of the loan amount.

Prepayment charges on home loan are Nil in most of the banks.

Home loans comes at both fixed and floating interest rates. Choose one according to your requirements.

Tenure of home loan is up to 30 years in most of the banks.

Maximum loan amount that can be availed on a home loan is up to 90% of the cost of the property.

Eligibility Criteria for Home Loan in Mumbai

Bank Name

Age

Income

Maximum Loan

Guarantor Required

BT option

Work experience

SBI Bank

18-70 years

Min.10,000 p.m

Up to 90% cost of property

Yes

Yes

Not required

HDFC Ltd

21-60 years

Min. 15,000 p.m

Up to 80% cost of property

No

Yes

Not required

ICICI Bank

18-60 years

Min. 15,000 p.m

80% cost of property

No

Yes

Not required

Axis Bank

21 years

Min. 10,000 p.m

Up to 80%

No

Yes

Not required

CITIbank

Minimum age should be 23 years

NA

Up to 10 crore

Yes

Yes

Upto 2 years

DHFL Bank

Minimum age should be 21 years

Min. 15,000 p.m.

Up to 5 crore

No

Yes

2 years

LIC HFC

18-60 years

1,80,000 p.a

80% of cost of property

Yes

Yes

2 year

Bank of Baroda

21-60 years

Upto 20,000 p.m

Up to 80% of cost of property

No

Yes

Not required

Documents Required for Home Loan In Navi Mumbai

For salaried person

For self-employed

Application form with photograph

Application form with photograph

KYC documents

KYC documents

Form 16(ITR)

Form 16(ITR)

Last 3 months salary slip

Residence Proof

Last 6 months bank statements

Last 6 months bank statements

Residence Proof

Proof of business existence

Last 2 years profit/loss statements

Last 3 years income tax returns

How to apply for Home loan?

An individual can apply for Home loan through Loansninsurances.com. At Loansninsurances, we provide all the details of the banks related to Home loan. You can compare different banks Home loan interest rates on Loansninsurances.com and can apply directly to the bank through our website, just in few clicks.

FAQs

1) What is Lenders Mortgage Insurance (LMI)?

Lenders Mortgage Insurance is an insurance policy which covers your lender against loan defaults. Which means if one cannot pay home loan on time then their lender is compensated by an insurer to protect them from financial loss.

2) Are there tax benefits on taking a home loan?

Residents of India are eligible for certain tax benefits on the principal amount, under Indian income tax act 1961.

3) What is an overdraft account?

With an overdraft account, bank first asks for a security and then assign a credit limit on the basis of the market value of that property. So, when we use this credit limit, the amount goes from zero to negative zone and at time of repaying, it goes from negative to zero. Interest is to be paid by us to bank on an overdraft account.

4) What is a split rate?

A split rate gives borrowers the option to split their loan into two parts, with one part at floating rate and other at a fixed rate.

5) What is MCLR?

MCLR (Marginal cost of funds based lending rate), it is the rate below which the bank doesn’t provide loans to customers.